The BIS Innovation Hub Nordic Centre has launched Project Raven, which aims to create a new AI-based solution to help authorities comprehensively assess the cyber security and resilience maturity readiness of their countries’ financial systems.
As part of their responsibility to safeguard financial stability, central banks have a crucial role in overseeing the cyber security and operational resilience frameworks of financial institutions and financial market infrastructures. In parallel, central banks and regulatory authorities must also assess their own practices and those of their critical service suppliers.
With Project Raven’s solution, central banks and regulatory authorities will be able to use AI to:
- Enable fast and easy access to a range of complex information, standards and guidelines.
- Collect and analyse cyber security and resilience data to get a holistic view of the maturity and readiness of the financial sector and identify areas of action and trends over time.
- Enable efficiency through the intelligent completion of multiple reporting requirements and the reuse of data.
